MGA Issues Governance Recommendations To Strengthen Malta's iGaming Sector

The Malta Gaming Authority (MGA) has published the findings of its Thematic Review on Governance Assurance – Key Functions, a study identified as a key supervisory priority for 2025 as part of the regulator's push for a risk-based, evidence-led and outcomes-focused approach to oversight.

The review assessed governance arrangements across a sample of B2B and B2C Authorised Persons among MGA-licensed companies, focusing on how the Chief Executive Officer, Compliance, Internal Audit and Prevention of AML/CFT functions operate in practice. Drawing on insights from Supervisory Reviews and Supervisory Meetings, the MGA found that many Authorised Persons had established mature governance frameworks, supported by active senior leadership, engaged Key Function Holders and increasingly risk-based approaches across governance, compliance, internal audit and AML/CFT oversight.

The strongest governance arrangements, the MGA noted, were marked by active leadership engagement, empowered Key Function Holders, effective collaboration across assurance functions, and governance processes embedded into day-to-day decision-making. Examples of good practice highlighted included structured escalation procedures, risk-based monitoring programmes, independent assurance functions, governance committees, and proactive consideration of regulatory implications when entering new markets or making significant business changes.

The regulator said it hopes the review will help Authorised Persons assess the effectiveness of their own governance arrangements, identify opportunities for improvement, and strengthen oversight, accountability and assurance across key governance functions.